# 3.2 Receivables as an Asset: Vault Mechanism

The financial integrity of $qYield is entirely dependent on the quality of receivables. QuantaRail’s innovation lies in cryptographically verifiable receivables, eliminating reliance on off-chain attestations.

#### Composition of Receivables

Each API call triggers PoSv, generating a signed receipt containing: timestamp, node\_id, request\_hash, output\_commitment, and PQC signature.

Receipts are verified by an on-chain validator contract and recorded as finalized revenue events. Aggregated receipt logs form the receivables ledger—requiring no oracles, custodians, or off-chain proofs.

*Figure 3.B — Capital Flow: From Deposit to Yield Distribution*

<table data-header-hidden><thead><tr><th width="168.111083984375"></th><th width="271"></th><th></th></tr></thead><tbody><tr><td>Step</td><td>Flow</td><td>Instrument</td></tr><tr><td>1. Deposit</td><td>Depositor → Vault</td><td>USDC/USDT</td></tr><tr><td>2. Issuance</td><td>Vault → Depositor</td><td>NAV-based $qYield</td></tr><tr><td>3. Lending</td><td>Vault → Operator</td><td>Overcollateralized Loan (150%)</td></tr><tr><td>4. Deployment</td><td>Operator → Vendor</td><td>qSIM Hardware</td></tr><tr><td>5. Service</td><td>Node → Client</td><td>QRNG/PQC Output</td></tr><tr><td>6. Collection</td><td>Client → Protocol</td><td>$QBT Fees</td></tr><tr><td>7. Routing</td><td>Protocol → Vault / Burn / Operator</td><td>45% / 15% / 40%</td></tr><tr><td>8. Distribution</td><td>Vault → Holders</td><td>Buyback-and-Burn</td></tr></tbody></table>

*Figure 3.C — Comparison with RWA Protocols*

<table data-header-hidden><thead><tr><th width="146.11114501953125"></th><th width="177.66668701171875"></th><th width="193.666748046875"></th><th></th></tr></thead><tbody><tr><td>Protocol</td><td>Asset</td><td>Trust Mechanism</td><td>QuantaRail Advantage</td></tr><tr><td>Centrifuge</td><td>Invoice receivables</td><td>Off-chain legal contracts</td><td>On-chain PoSv verification</td></tr><tr><td>Ondo Finance</td><td>Treasury bonds</td><td>Custodian attestations</td><td>No custodian dependency</td></tr><tr><td>Maple Finance</td><td>Institutional loans</td><td>Credit committee</td><td>Hardware-attested performance proof</td></tr><tr><td>Goldfinch</td><td>Emerging market loans</td><td>Auditor validation</td><td>Automated on-chain verification</td></tr><tr><td>QuantaRail</td><td>API service receipts</td><td>PoSv + validator contract</td><td>Self-contained, oracle-free</td></tr></tbody></table>


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